Introduction:
As the global economy shows signs of recovery, the annual shopping spree "Double 11" has once again set off a craze in the retail industry, with sales increasing significantly and setting a new historical record. The event, held on November 11, witnessed unprecedented online spending with consumers taking advantage of attractive discounts and offers offered by various e-commerce platforms.
this year's festival provides a much-needed boost to the global retail industry. Amid ongoing social distancing measures, consumers craving some retail therapy and looking for bargains are turning to online shopping as a safer and more convenient option.
Present:
In China, the holiday originated as Singles' Day, with e-commerce giant Alibaba posting staggering sales figures. Within the first 30 minutes of the event, Alibaba platforms including Tmall and Taobao made a staggering $1 billion. As of the close of the day, total sales reached an astronomical figure of $75 billion, surpassing last year's record.
The event's international participation continues to grow as Chinese retailers expand into global markets. The festival is increasingly attracting overseas shoppers, with cross-border sales on Alibaba's platforms doubling from last year. This highlights the growing influence and popularity of the Double 11 festival globally.
In addition to China, other e-commerce platforms around the world have also seen sales surges. US-based online marketplace Amazon reported record-breaking sales, capitalizing on the holiday's popularity by extending its Prime Day event to Double 11. Other platforms in Europe, Southeast Asia and South America also experienced surges in sales. Consumers seek to take advantage of available discounts on online orders.
summaries:
The Double 11 Shopping Festival has become a major event for consumers and retailers, setting the tone for the upcoming holiday season. It can not only boost sales but also stimulate economic growth, especially in the wake of the pandemic. This year’s impressive results demonstrate the retail industry’s resilience and ability to adapt in the face of adversity.
As the global economy gradually recovers, Double 11 has demonstrated the potential of online shopping to reshape the retail landscape. The event continues to evolve, offering consumers unparalleled discounts and giving retailers a platform to significantly increase sales. Year after year, the festival continues to reaffirm its place as a key event in the shopping calendar, driving economic growth and setting new records.
Post time: Nov-13-2023